| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,626,115.00 | +2.15% |
| USD/ARS | 1,415.00 | +0.54% |
| YPF | 36.89 | +2.53% |
| MercadoLibre | 1,787.86 | +0.42% |
| Globant | 51.61 | -2.99% |
| Soybeans | 1,218.75 | +2.85% |
| Gold | 5,101.60 | -0.86% |
| Bitcoin | 67,765.63 | +2.72% |
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
Argentine markets advanced yesterday, with the Merval index rising 2.15% to 2,626,115, led by energy and commodity sectors. YPF shares gained 2.53% to 36.89, supported by Vaca Muerta progress and soybean prices up 2.85% to 1,218.75. MercadoLibre increased 0.42% to 1,787.86 on e-commerce strength, while Globant declined 2.99% to 51.61 due to tech sector weakness.The USD/ARS official rate climbed 0.54% to 1,415, driven by crawling peg dynamics. February CPI came in at 12.5% MoM, below the 13.0% consensus, helping narrow parallel rate gaps and ease policy concerns. These developments highlight Argentina's export-led momentum offset by currency volatility.
The calendar is empty today with no key Argentine data or events, giving markets time to absorb recent inflation data and commodity movements. Focus may turn to BCRA's FX interventions to stabilize the crawling peg if parallel rates fluctuate. Investors will monitor Vaca Muerta updates for potential production boosts.IMF feedback on reserve targets could influence sentiment, especially after recent accumulations. Trading may be quiet absent U.S. rate surprises, with soybean exports posing a key risk to reserves.
Argentina's fiscal consolidation efforts are showing results, as seen in the softer February CPI, aiding BCRA's inflation control without sharp rate adjustments. Vaca Muerta remains pivotal for energy exports, helping cut import reliance amid global price swings. Adherence to IMF targets is critical, with reserve building essential for further funding and gradual easing of controls.
Global markets were mixed yesterday, with commodity gains supporting Argentine assets; soybeans rose 2.85% to 1,218.75, enhancing export revenues and BCRA reserves. Gold dipped 0.86% to 5,101.60, easing peso pressures from safe-haven flows. Bitcoin advanced 2.72% to 67,765.63, underscoring its use as an inflation hedge in Argentina.Trump's meeting with Latin American leaders emphasized anti-cartel measures and cooperation on Cuba and Venezuela, potentially fostering regional stability and trade benefits for Argentina. (cont...)
However, U.S.-China tensions could dampen global demand for Argentine commodities. Oil stability aids Vaca Muerta, though inventory data may introduce volatility. These elements point to guarded positivity for Argentina amid emerging market challenges.
The BCRA upheld its crawling peg with a modest 0.54% USD/ARS uptick to 1,415, using interventions to limit depreciation while preserving reserves. February's 12.5% MoM CPI aligns with IMF-backed fiscal goals, possibly enabling controlled easing of controls. Reserves have improved toward targets, bolstered by soybean taxes and energy inflows.The bank stresses steady policy without sudden shifts, reducing the blue dollar premium to about 20%. Vaca Muerta contributions to FX are highlighted for liquidity support. This approach suggests potential for bond gains if milestones are achieved, though inflation persistence could postpone rate reductions.